Let’s book profits on our JPMorgan Chase (JPM) and Skechers (SKX) puts.
While the JPM profit is modest, the position is proof that patience and aggressively managing underwater positions pay off.
JPM May Monthly (5/20) 120 Put
Current Stock Price: $122.08
Cash in Hand: $1.40
Action: Buy to close the JPM May Monthly (5/20) 120 Put for around $0.84, but adjust as needed to close today
Profit: $0.56, or $56 per contract
SKX May Monthly (5/20) 35 Put
Current Stock Price: $37.68
Cash in Hand: $0.80
Action: Buy to close the SKX May Monthly (5/20) 35 Put for around $0.15, but adjust as needed to close today
Profit: $0.65, or $65 per contract